How to Conduct a Peer Review Under the AICPA Practice-Monitoring Program
Learn the foundation of an effective peer review engagement and evaluation of a firm’s system of quality control under the AICPA Practice-Monitoring Program. This CPE course features realistic case studies that encompass the most important elements of a system peer review, as well as several case studies pertaining to an engagement review.
As a current or future team and/or review captain, you will learn to successfully plan for, perform and report on both system and engagement reviews. You are also introduced to the administrative and committee roles in the peer review program.
- Evaluation of a firm’s system of quality control
- Steps in a peer review engagement
- Writing peer review reports
- Assisting firms in preparing letters of response
- Planning and conducting the exit conference
- The role and qualifications of the peer reviewer in system and engagement reviews
- Objectives and requirements related to peer reviews in a peer review program
- Comprehensive system peer review case studies
- Engagement reviews and their distinct differences from system reviews
When you complete this course, you will be able to:
- Explain the process of how to effectively plan system and engagement peer reviews.
- Identify steps needed to understand a firm’s system of quality control.
- Document procedures used in testing the firm’s system.
- Prepare the peer review report.
- Provide recommendations for follow-up action to the administrating entity.
- Identify the impact and effect that organizational issues have on a firm’s system of quality control.
Who Will Benefit?
Individuals who wish to serve as peer review team captains and review captains
Prerequisite: Working knowledge and experience with the Statements on Quality Control Standards
Advanced Preparation: None
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